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The Latest Breaking News from Reserve Bank

Inflation hasn't been higher for 32 years. What now?

Inflation jumped from 5.1% to a new long-term high of 6.1% in the June quarter, a rate matched only by short-lived jump caused by the introduction of the goods and services tax, and not exceeded since 1990.

The Conversation

Inflation hits 21-year high of 6.1 per cent

Inflation 55.5 per cent over the June quarter as higher petrol and grocery bills continue to squeeze households, new official data reveals.

The New Daily

What is inflation? Why is the CPI so high? And how is the RBA planning to bring it back down?

Inflation is the highest it has been in decades, and is set to rise further. But how is it measured, what is behind the price rises and how will the Reserve Bank get it back under control?

ABC News

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Michael Pascoe: Reserve Bank review fails at the starting gate

What has been announced is rather like believing a review of the army uniform is overdue, but only reviewing left boots, writes Michael Pascoe.

The New Daily

From Reserve Bank encouraging wage increases to keeping a lid on a feared inflationary spiral

Rising inflation will test the industrial relations system

Newcastle Herald

RBA probe seeks transparency reforms

A review in the RBA will seek to look at the board governance and current policy settings.

The Canberra Times

Golden chance for NZ exports as West 'friend-shores' its supply chain

The US is leading calls to trade first with countries it knows and trusts. NZ must grasp opportunities to be part of such international supply chain resilience initiatives.

Newsroom.co.nz

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The Reserve Bank will face a major review. Here’s what that means

Australia’s inflation target and why the Reserve Bank has failed to achieve it will be probed in the biggest review of the central bank in decades.

The New Daily

Chalmers looks for confidence in RBA

Treasurer Jim Chalmers has flagged changes to the RBA's board with a new review by an independent panel for the first time since the 1980s.

AAP

International expert to review Reserve Bank as deputy governor says households in 'fairly good position' on rate rises

An international expert on monetary policy, Carolyn Wilkins, is one of a three-member panel that will conduct a broad review of the Reserve Bank, including its objectives and the interaction of monetary and fiscal policy.

The Conversation

How rising interest rates could work for you with term deposits and savings

With the RBA and other central banks winding up cash rates, term deposit rates and even interest rates on savings accounts have started to rise.

The New Daily

Rates put first home buyers at risk: RBA

Reserve Bank deputy governor Michele Bullock has told a Brisbane audience recent first home buyers are most at risk of default in the face of rising rates.

AAP

Extra half billion dollars in fuel cuts could have gone to critical health shortages

Unspent Covid funds that could have brought critical medical staff into the country will instead provide a continued discount for the use of the roads, and have no real impact on inflation.

Newsroom.co.nz

ANZ predicts cash rate above 3 pct in 2022

ANZ is forecasting the cash rate will hit 3.35 per cent for November, a prediction that's the most hawkish of the big four banks.

AAP

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The Conversation

View from The Hill: Chalmers warns he'll deliver bad news in parliament's first week

The first week of the new parliament will contain some depressing news, with Treasurer Jim Chalmers on Monday softening up the community to expect a “confronting” statement on the economy.

The Guardian - AU

New Zealand inflation hits 7.3%, the highest rate since 1990

Pain for households as consumers price index for June quarter exceeds forecasts and more interest rate rises loom

The New Daily

Inequality has worsened and the budget is shot, so means test everything

Casuals with no access to sick leave obviously need to be looked after by the government, but everyone else should be told to look after themselves.

The New Daily

Michael Pascoe: ‘Everyone’ was wrong about wages – and they may be again

Workers don’t think their boss is open to giving a fat pay increase, writes Michael Pascoe. Fears of a a wage-price spiral are well overblown.

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news in one place.

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The New Daily

‘Secret weapon’: Female jobs boom drives COVID recovery as unemployment rate falls

Women have emerged as a “secret weapon” driving Australia’s world leading COVID recovery, with a huge rise in female jobs easing labour shortages.

The Guardian - AU

A recession is not inevitable in Australia – and certainly not necessary

The level of inflation we have and its causes do not require a recession to reduce them. Such talk is foolish

ABC News

The Reserve Bank can look across to New Zealand for a hint on Australia's economic future

New Zealand is about six months ahead of Australia in its moves to bring down inflation, so is looking across the ditch a glance into our future?

The New Daily

Where to earn the highest rates on your savings

The top 10 savings accounts offer a chance to earn decent returns on cash deposits – especially if you are happy to make the move to a new bank.

ABC News

Interest rate rises push household finances towards pandemic lows, confidence plunges

Australians are still spending record amounts of money, but surveys show that could change quickly as interest rate rises send consumer confidence towards pandemic lows.

Newsroom.co.nz

Meremere v Normandale – the suburbs turning the house price tables

Ahead of this week's anticipated interest rates hike, we discover which sunny suburbs are hardest hit by the property slump – and which ones are bucking the trend.

The New Daily

How to haggle with lenders to get the best home loan deal

Three rate rises in three months – it's a tough ask for home owners, but it is possible to ease the financial pain. Here's how to land a better deal.

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